Post Office on Brink of Default

Seems like everyday we are getting more and more bleak news about the Post Office. Numerous news outlets have reported that the Post Office is on the brink of defaulting this month. I read an article today from Gov Exec
that reports that by the end of the month, the Post Office could be
in the hole by 10 billion. Gov Exec reported, “Postmaster General Patrick Donahoe told lawmakers on Tuesday that the agency will default on its obligation to prepay its retiree health benefits account and reach its statutory borrowing limit by the end of September unless it receives immediate relief.”

What a tough situation Patrick Donahoe to be in. Seems like there is no good way out, lots of people are going to be put out of work and lots of benefits are going to be cut. In our community, many GovLooper’s have brought up the challenges facing the Post Office. The challenges the Post Office has been facing has been a hot topic on GovLoop over the past few months. I dug around GovLoop a bit and here are 3 great links and discussions from our community:

Daily Dose: How Would You Improve the Postal Service?

Would You Miss Your Saturday Mail Delivery?

GovHelp: Don’t Let the Post Service Die!

I think the biggest step here looks like avoiding a default. Ideas that are floating around typically are, cut Saturday mail delivery, restructure pensions for employees & retirees, build off private sector practices, delivery schedules. Time is of the essence though, I hope everything moves fast enough and the Post Office can save as many jobs as possible.

Be interested to hear your thoughts. Is a default inevitable? When was the last time you wrote a hand-written letter? What are some solutions for the Post Office?